Arab Finance: The Egyptian Exchange’s (EGX) Listing Committee has approved the listing of Sidi Kerir Petrochemicals’ (Sidpec) issued and paid-up capital increase, according to a bourse disclosure on February 22nd.
The Sidpec’s issued and paid-up capital shall increase to EGP 1.512 billion from EGP 1.260 billion by EGP 252 million distributed over 126 million shares at a nominal value of EGP 2 per share.
Accordingly, 1-for-5 bonus shares will be distributed, with the eligibility for shareholders on a record date of February 22nd.
Following the capital increase, the firm’s shares will be registered on the EGX’s database as of Thursday, February 23rd.